TriQuint Beats Q3 Views; Boosts Guidance

TriQuint Semiconductor TQNT beat third-quarter expectations and boosted its outlook Tuesday, citing strong demand.

The Hillsboro, Oregon, radio-frequency chip-maker gained more than 3 percent in the extended session, trading recently at $19.01 a share.

TriQuint forecast fourth-quarter adjusted earnings of $0.40 to $0.45 a share, on revenue of $330 million to $340 million.

The company said that as of October 28 it's "fully booked to the midpoint of revenue guidance."

Wall Street expects adjusted earnings of $0.35 cents a share, on revenue of $313.9 million for the fourth quarter.

TriQuint's second-quarter earnings rose to $26.2 million or $0.14 cents a share, compared with net income of $5.2 million or $0.03 cents a share a year earlier, while adjusted earnings grew to $0.28 cents a share, from $0.13 cents a share a year earlier.

Revenue grew 8 percent to $272.1 million, from $250.8 million.

Analysts had forecast adjusted earnings of $0.24 cents a share, on revenue of $261.34 million.

Posted In: EarningsNewsGuidance
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